The Renewed Hope Ambassadors, a coalition of Nigerian professionals and stakeholders, have praised President Bola Tinubu’s administration for its bold reforms in the oil and gas sector.
In a statement signed by Dr. Opialu F. Opialu, the group’s Secretary-General, they lauded the president’s efforts to enhance the investment climate, positioning Nigeria as Africa’s top investment destination.
Reforms Addressing Key Industry Challenges
Dr. Opialu emphasized that the ongoing reforms aim to tackle major challenges in the sector, including:
Declining investment
Low production levels
Inadequate infrastructure
According to him, the reforms are already yielding positive results, with a noticeable increase in investor interest and activity.
Commendation for Regulatory Bodies
The group also recognized the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Communications Commission (NCC) for their regulatory efficiency in fostering transparency and accountability within the industry.